Novak: Russia ready to discuss reduction in oil production

Novak: Russia ready to discuss reduction in oil production

The head of the Russian Ministry of Energy, Alexander Novak, described the conditions under which Russia might consider cutting its oil output volumes. 

"We're ready to discuss the issue of cutting oil output volumes, but this isn't a decision. We're ready to consider the possibility. This should be a consensus. If there's a consensus, it makes sense, if not, it's not," Novak said in an interview with Bloomberg.

He also added that Russia will participate in the OPEC meeting in February.

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